Was reading some replies in this topic, seems some people are having hard time understanding Custodial, Non Custodial and Browser based wallets. In this topic, I will try to explain in brief what these three wallets are.
Custodial
These are like traditional banking system. You are storing your money to a bank. They are holding your money, when you need, you can withdraw or send others. But everything is done by the bank, everything is under control of bank, they can anytime have a review on your financial activity, can hold withdraw request and your fund for certain time. You have no control over your money.
Custodial wallets are also same. You are holding your coins in a bank. You are not the controller. For example, you can use Coinbase for everything but they can anytime hold your withdraw request etc. In a word, you are not the controller of your fund.
Non Custodial: Web Wallet
These wallets give whole control of your wallet to you. You will have a private key, you can import the private key in your desktop wallet. Your funds are holding by the wallet owner of course but they are giving you the power of control. Even if you lose everything other than the private key, you can access your fund. For example- Blockchain.com
Browser Based Wallet
These are some sort of application which is compatible with your browser. You will hold the credential like private key/seed key etc. You are the controller of your fund. For example- Metamask.
At the end, I would like to remember one more time- "Not your key, Not your crypto."
